Bitcoin Magazine’s Week in Review: Putting Blockchain Tech on the Map

The Lightning Network continues to make news and Bitcoin Magazine’s latest cover story looks at what the future might hold for the innovative technology. Also new this week, BTC Media’s highly anticipated 2018 “Map of the Blockchain/Crypto Ecosystem” was also unveiled. It’s full of creative visual treats highlighting the state of the sector and its explosive growth.

Developing interest and commitment to blockchain technology is also continuing to grow around the world. In the Middle East, the Mobility Open Blockchain Initiative (MOBI) was announced at the Dubai-hosted Futures Blockchain Summit with a focus on transportation. Saudi Arabia is making headway on adopting blockchain technology for supply chain management in the oil and gas sector. And 5 blockchain projects were highlighted at the International Association for Cryptologic Research conference in Tel Aviv.

After years of design and work, the first Lightning implementations are now in beta. More nodes are appearing online every day, a growing number of users are opening channels with one another, and some merchants have even started to accept Lightning payments.

The 2018 edition of BTC Inc’s popular “Map of the Blockchain/Crypto Ecosystem” has been unveiled. The map provides a visual representation of “the space” in the form of a city skyline with buildings displaying the logos of various entities.

Major companies including IBM, Context Labs, Ford and BMW announced their collaboration at this year’s Futures Blockchain Summit in Dubai and have formed the Mobility Open Blockchain Initiative (MOBI). MOBI will explore further blockchain use and study how it can reduce the cost and increase the safety and accessibility to transportation around the world.

Through an open-source business design, MOBI is aiming to boost blockchain adoption among businesses that either develop or deliver autonomous vehicle and mobility services. Thus far, the group has sent invitations to various automakers, public transportation operators, toll road providers, blockchain firms, technology firms, academic institutions, startup entrepreneurs and global regulatory bodies to join the cause.

In line with their Vision 2030 commitment to adopt advanced technology including blockchain, Saudi Arabia’s state-owned oil company Aramco is working toward adopting blockchain technology for management and accounting.

In an interview with Bitcoin Magazine, Nick Spanos, CEO and co-founder of Zap.org, and founder of Blockchain Technologies Corp and the Bitcoin Centre NYC, talked about the Saudis’ enthusiasm for blockchain technology.

“Saudi Arabia is kicking the tires, and that’s huge. As part of their ambitious Vision 2030, Saudi Arabia as a whole is doing everything it can to modernize and diversify their economy. It means they’re open to doing things differently — and to doing big things with blockchain.”

For the second year in a row, a flagship cryptography conference in Europe has devoted an entire session to blockchain technology.

Hosted by the International Association for Cryptologic Research (IACR), the conference was attended by 370 people. Five blockchain papers were presented on the second day of the conference, and one of those even received a “best paper” award.